NFP data

The Non-Farm Payrolls data out of the US came out better than expected, causing the Dollar to strengthen versus its major counterparts. The market was expecting a reading of 240,000 new jobs for the month of February, but the number came out at 295,000 new jobs, causing the greenback to rise and supporting the FED on its plans to raise its interest rates by the middle of this year. The Euro versus the Dollar has weaken to levels not seen since September 2003. It is possible to see further losses on the Euro, especially now that the European Central Bank is expected to kick start its bill printing press to create more Euros in circulation in the Eurozone.